Fei Protocol founder proposes ghosting Tribe DAO following hack repayment
Cointelegraph
Published Aug 20, 2022 06:35AM ET
Updated Aug 21, 2022 08:40AM ET
An attack in April 2022, which drained off nearly $80 million from various Rari Fuse pools, required the decentralized finance (DeFi) platform Fei Protocol to come up with a solution that minimizes damage to the ecosystem. Fei Labs’ latest proposal, which partly recommends revoking participation from Tribe DAO, received mixed sentiments from the community.
Fei Protocol founder Joey Santoro announced the latest proposal, TIP-121: Proposal for the future of the Tribe DAO, revealing the company’s intent to reimburse Fuze victims. It also details plans for asset redemption and the distribution of protocol-controlled value (PCV) assets that manage the liquidity and yield.
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Written By: Cointelegraph
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